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DAG II | DAG I | 1991-1999

Prism Radio Partners - During the 1992-1994 period, DAG built its first large investment, Prism Radio Partners, into a successful company. Prism raised a total of $50 million in equity from DAG and other capital sources and aquired 16 FM and AM stations in five mid-size markets. In July 1996, all of the radio stations were sold for cash to SFX Broadcasting, a publicly-traded radio broadcasting company.

Data Securities International - In 1995, DAG acquired a controlling ownership position in Data Securities International, Inc. (DSI), which was the leading provider of professionally-managed software escrow services in the U.S. In 1997, DSI was sold to Iron Mountain, Inc for cash and stock.

ProBusiness Inc. - In 1995, DAG made an investment in ProBusiness, a rapidly-growing payroll processing firm. The firm developed state-of-the-art, PC-based payroll processing and tax software which permitted highly customized reporting as well as real time access to payroll and tax data. ProBusiness went public in 1997 and was eventually acquired by ADP.

FrontierVision -In 1995, DAG and another private equity firm identified an opportunity to invest in rural cable television. Together, the firms developed a business plan and recruited a CEO. $200 million of equity and $800 million of senior and high yield debt was raised to acquire three clusters of cable systems with 700,000 subscribers. The company was sold in 1999 to Adelphia Communications for cash and stock.

Triton Cellular - Triton Cellular was formed in 1996 with $130 million in equity, principally from DAG and two other private equity firms. The company served as a platform vehicle to effect a large scale consolidation of rural cellular systems in clustered areas. Triton Cellular was sold to Rural Cellular for cash in April 2000.

The Burke Group - In 1996, DAG acquired The Burke Group which manufactured hardware and chemicals used in concrete construction. The company's cash flow went from negative to positive and the company was sold to MMI Products in 1998 for cash.

Triton PCS - In 1997, DAG was one of several large investors in Triton PCS, a wireless services provider in Virginia, South Carolina and North Carolina. AT&T contributed to Triton the A and B band licenses it had won in the auction for these markets in return for a minority ownership position in Triton. $220 million of equity was raised with $400 million of senior bank debt and $300 million of high yield debt. Triton PCS went public in 1999.


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